Resolution Of 31 March 2015, Of The General Directorate Of The Treasury And Financial Policy, By Which Updates Annex 1 Included In The Of 5 Of February 2015, Which Defines The Principle Of Financial Prudence Applicable To Operate Them...

Original Language Title: Resolución de 31 de marzo de 2015, de la Secretaría General del Tesoro y Política Financiera, por la que se actualiza el Anexo 1 incluido en la de 5 de febrero de 2015, por la que se define el principio de prudencia financiera aplicable a las opera...

Read the untranslated law here: http://www.boe.es/buscar/doc.php?id=BOE-A-2015-3575

Resolution of February 5, 2015, of the General Directorate of the Treasury and financial policy, which defines the principle of financial prudence, applicable to operations of indebtedness and derived from local authorities, and of the autonomous communities which accept the Fund's financing autonomous sets in its third article that 'the maximum total cost of borrowing operations including commissions and other expenses, except the committees referred to in paragraph 3 of this article, it shall not exceed the cost of financing of the State the term of operation, increased in the differential that corresponds according to the type of administration, defined in the following section.

The communities autonomous, and those entities local that have with tools of valuation own or an advice external independent, will determine in the time of the operation the cost of financing of the treasure based on the methodology contained in the annex 2 of this resolution. He rest of entities local, to know the cost of financing of the State to each term, used the table of types fixed or them differential maximum applicable on each reference that publish monthly, by resolution, the Secretariat General of the treasure and political financial. «The costs maximum published will remain in force while not be publish new costs».

In accordance with the obligation of monthly update of the cost of financing of the State each time, publishes a new annex 1 which shall replace annex 1 included in the resolution of February 5, 2015.

Madrid, 31 of March of 2015.-the Secretary General of the Treasury and political financial, Rosa Maria Sanchez-Yebra Alonso.

ANNEX 1 types of interest fixed and differential cost of State funding for the purpose of compliance with paragraph third from the resolution of 5 February 2015, the General Directorate of the Treasury and policy financial life operation (months) fixed maximum rate (percentage) differential maximum euribor 12 months (basis points) maximum differential on euribor 6 months (basis points) maximum differential on euribor 3 months on average (points Basic) differential maximum on euribor 1 month (points básicos)






1





-0,26





 





 





 





-21






2





-0,19





 





 





 





-13






3





-0,11





 





 





-13





-6






4





-0,06





 





 





-8





-1






5





-0,07





 





 





-8





-1






6





-0,05





 





-14





-6





1






7





-0,01





 





-10





-2





5






8





0,01





 





-8





0





7






9





0,01





 





-7





0





7






10





0,01





 





-7





1





7






11





0,01





 





-7





1





7






12





0,01





-19





-7





1





8






13





0,02





-18





-6





1





8






14





0,01





-18





-7





1





8






15





0,01





-18





-7





1





8






16





0,02





-17





-6





2





9






17





0,03





-16





-5





3





10






18





0,04





-15





-4





4





11






19





0,05





-14





-3





4





11






20





0,06





-14





-3





5





12






21





0,07





-13





-2





6





13






22





0,08





-11





0





8





14






23





0,10





-9





2





9





16






24





0,12





-8





3





11





18






36





0,26





3





14





21





28






48





0,41





12





23





31





38






60





0,60





23





35





42





49






72





0,76





32





44





51





58






84





0,91





41





52





60





67






96





1,06





49





60





67





74






108





1,16





52





63





71





78






120





1,27





58





69





77





83






132





1,36





62





73





80





87






144





1,45





67





78





86





93






156





1,53





72





83





91





97






168





1,59





74





85





93





100






180





1,66





79





90





97





104






192





1,70





81





92





99





106






204





1,72





81





92





99





106






216





1,75





82





94





101





108






228





1,79





86





97





104





111






240





1,84





89





100





108





115






252





1,89





92





104





111





118






264





1,93





96





107





114





121






276





1,94





96





108





115





122






288





1,96





97





108





116





123






300





1,97





98





109





117





123






312





1,99





100





111





118





125






324





2,01





101





113





120





127






336





2,02





102





113





121





128






348





2,03





103





114





121





128






≥ 360





2,05





 





 





 





 





Them types of interest fixed and differential maximum applicable to operations whose life half exact not is find posted in the present table is find by interpolation linear between them two types or differential more near to the term half of the operation.


Fixed interest rates and differential applicable maximum for operations whose exact half life is not posted in this table shall be found by linear interpolation between the two types or spreads closer to the average operation time. On these types of interest fixed or differential on euribor, is may apply them differential maximum content in the article 3, paragraph 2, of the resolution of 5 of February of 2015, of the Secretariat General of the Treasury and political financial